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A bond has a par value of $1,000, a coupon rate of 5.37 percent (paid annually), and that matures in 15 years. Assume the market
A bond has a par value of $1,000, a coupon rate of 5.37 percent (paid annually), and that matures in 15 years. Assume the market interest rate on this bond is 12.59 percent and it increases 59 basic points. Calculate the percentage change in the value of the bond.
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Answer To calculate the percentage change in the value of the bond we need to find the bonds price b...
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Fundamentals of Investing
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
12th edition
978-0133075403, 133075354, 9780133423938, 133075400, 013342393X, 978-0133075359
